Dakota Gold (NYSE:DC) Upgraded by Scotiabank to Strong-Buy Rating

Dakota Gold (NYSE:DC) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also commented on DC. Zacks Research upgraded shares of Dakota Gold to a “hold” rating in a research report on Tuesday, January 6th. HC Wainwright assumed coverage on Dakota Gold in a research note on Monday, January 5th. They issued a “buy” rating and a $9.75 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Dakota Gold has a consensus rating of “Buy” and an average target price of $10.19.

Dakota Gold Trading Up 3.0%

Shares of NYSE DC opened at $6.55 on Monday. The company’s 50-day moving average price is $6.08 and its 200 day moving average price is $5.06. Dakota Gold has a 52 week low of $2.40 and a 52 week high of $7.25. The stock has a market cap of $760.84 million, a price-to-earnings ratio of -15.98 and a beta of 1.08.

Insider Activity at Dakota Gold

In related news, CFO Shawn Campbell sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $6.30, for a total transaction of $346,500.00. Following the transaction, the chief financial officer owned 179,491 shares of the company’s stock, valued at approximately $1,130,793.30. This represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Quartermain sold 250,000 shares of Dakota Gold stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,720,000.00. Following the completion of the sale, the chief executive officer directly owned 7,493,244 shares of the company’s stock, valued at $51,553,518.72. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 26.02% of the company’s stock.

Hedge Funds Weigh In On Dakota Gold

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in Dakota Gold by 87.7% during the first quarter. AQR Capital Management LLC now owns 31,293 shares of the company’s stock worth $83,000 after buying an additional 14,617 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Dakota Gold by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 210,091 shares of the company’s stock valued at $557,000 after acquiring an additional 8,249 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Dakota Gold by 14.9% during the 1st quarter. Jane Street Group LLC now owns 58,867 shares of the company’s stock worth $156,000 after acquiring an additional 7,626 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Dakota Gold in the first quarter worth approximately $87,000. Finally, Ethic Inc. grew its holdings in Dakota Gold by 11.5% in the second quarter. Ethic Inc. now owns 59,871 shares of the company’s stock valued at $226,000 after purchasing an additional 6,177 shares during the period. 37.41% of the stock is currently owned by institutional investors and hedge funds.

About Dakota Gold

Dakota Gold Corp (NYSE:DC) is a mineral exploration and development company focused on advancing gold projects within the United States. The company’s primary asset is the historic Homestake District in South Dakota’s Black Hills, where it seeks to redevelop gold-bearing tailings and low‐grade ore volumes for open‐pit heap leach processing. Dakota Gold pursues a staged approach, combining exploration, resource delineation and economic studies to unlock value from legacy mine materials.

The firm’s flagship property comprises sealed tailings impoundments and adjacent low‐grade stockpiles left over from the Homestake Gold Mine, which operated from 1876 until 2002.